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Author Topic: Slow News Month For Bitcoin?  (Read 3903 times)
kiba
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March 15, 2011, 07:29:55 AM
 #1

We got a knockout spectacular last February with Security Now and several other media publication, but now we're experiencing a kind of media drought for Bitcoin.

On occasion, some new services and merchants show up but nothing much happening this month.

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March 15, 2011, 11:22:09 AM
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On occasion, some new services and merchants show up but nothing much happening this month.

In my opinion, that's the only thing that counts in the long term. If we want the bitcoin system to succeed, we have to strive to make the system as convenient as possible for merchants and their customers.

Once we reach the critical mass, the media will simply "wake up" to bitcoin and start talking a lot about the system.
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March 15, 2011, 11:33:38 AM
 #3

There are things in development (like the super secret project that I'm involved with), that are going to be revealed publicly soon.

I really do think that it is scary when everyone gets so used to the speculative growth, but when many get their heads down and get real work done, that is when we will see the real growth.

Hmm, I think that if the bitcoin difficulty drops two times in a row, then we can start thinking about an issue.

But I agree things are very quite.  (maybe it is just the calm before the storm, certainly doesn't feel like it tho.)?

One off NP-Hard.
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March 15, 2011, 11:50:13 AM
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Much of the hype around Bitcoin has been the rapid rise in exchange rates vs. USD. This rise has leveled off for a while now, and it seems some of the enthusiasm has faded with it. No surprise, really. The kind of extraordinary growth we saw recently can't sustain itself indefinitely. Want Bitcoin to succeed? Hype it less, offer more goods and services.

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March 15, 2011, 04:22:56 PM
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Much of the hype around Bitcoin has been the rapid rise in exchange rates vs. USD. This rise has leveled off for a while now, and it seems some of the enthusiasm has faded with it. No surprise, really. The kind of extraordinary growth we saw recently can't sustain itself indefinitely. Want Bitcoin to succeed? Hype it less, offer more goods and services.

+1
kiba
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March 15, 2011, 04:28:46 PM
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Much of the hype around Bitcoin has been the rapid rise in exchange rates vs. USD. This rise has leveled off for a while now, and it seems some of the enthusiasm has faded with it. No surprise, really. The kind of extraordinary growth we saw recently can't sustain itself indefinitely. Want Bitcoin to succeed? Hype it less, offer more goods and services.

We barely got started with the exponential growth.

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March 15, 2011, 04:34:21 PM
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We barely got started with the exponential growth.

Let me modify my suggestion. If you want to see more Bitcoin mentions in different media, you can buy more and push the price up, or you can offer new goods or services people want. In the absence of either a new price hike or new uses for Bitcoins, there is little to talk about.

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March 15, 2011, 04:36:31 PM
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anyway, 1091 new registered members to this forum on half of March

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kiba
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March 15, 2011, 04:43:28 PM
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Let me modify my suggestion. If you want to see more Bitcoin mentions in different media, you can buy more and push the price up, or you can offer new goods or services people want. In the absence of either a new price hike or new uses for Bitcoins, there is little to talk about.
I am trying to constantly produce new contents. So far I only have 3 posts on witcoin that are profitable. I suspect the short term loss will be balanced out by a later rise of traffic.

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March 15, 2011, 06:48:09 PM
 #10

I suspect the short term loss

The right word is not "I suspect", but "I hope that".

But we can see, that actually this is the end of bitcoin era.
The ballance of generated bitcoins vs demand for real world is not reached.
The bitcoin price will continue to decline,
user base will not grow,
And the future of bitcoin is forgetting
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March 15, 2011, 07:08:01 PM
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I suspect the short term loss

The right word is not "I suspect", but "I hope that".

But we can see, that actually this is the end of bitcoin era.
The ballance of generated bitcoins vs demand for real world is not reached.
The bitcoin price will continue to decline,
user base will not grow,
And the future of bitcoin is forgetting

We should treat this with high alert and importance.

If we don't get the awareness higher soon, bitcoin might decline significantly and eventually get forgotten.

At least there is some substantial risk.

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jgarzik
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March 15, 2011, 07:29:04 PM
 #12

I agree it's a slow news month.

It is also worrisome that the recent slashdotting seemed to bring largely an interest in mining, and not so much a horde of people interesting in helping build the bitcoin economy.

If bitcoin is to survive, we need good, solid, reputable businesses and interesting applications to attract consumers.  We need easy merchant APIs that do not require running a bitcoin P2P node.  We need lightweight client mode.

A lot of work to do!  Smiley


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March 15, 2011, 07:41:52 PM
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I agree it's a slow news month.

It is also worrisome that the recent slashdotting seemed to bring largely an interest in mining, and not so much a horde of people interesting in helping build the bitcoin economy.

If bitcoin is to survive, we need good, solid, reputable businesses and interesting applications to attract consumers.  We need easy merchant APIs that do not require running a bitcoin P2P node.  We need lightweight client mode.

A lot of work to do!  Smiley

- Improve client to be more friendly. We need an addressing scheme that's easy to use for plebs.
- Stock exchange to gain funding for business ideas.
- Funding. Influx of money.
jgarzik
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March 15, 2011, 07:47:15 PM
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- Improve client to be more friendly. We need an addressing scheme that's easy to use for plebs.
- Funding. Influx of money.

Agreed.

Quote
- Stock exchange to gain funding for business ideas.

A nasty briar patch, IMO.  If you ever reach ~50 investors in a single company, you trigger securities laws.  And in some countries, you probably trigger securities laws anyway.

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kiba
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March 15, 2011, 08:14:20 PM
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- Improve client to be more friendly. We need an addressing scheme that's easy to use for plebs.
- Funding. Influx of money.

Agreed.

Quote
- Stock exchange to gain funding for business ideas.

A nasty briar patch, IMO.  If you ever reach ~50 investors in a single company, you trigger securities laws.  And in some countries, you probably trigger securities laws anyway.



What ya going to do when shareholders are anonymous and the companies have no real identity other than the fact that they exists on the internet?

kiba
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March 15, 2011, 08:14:54 PM
 #16

The right word is not "I suspect", but "I hope that".

But we can see, that actually this is the end of bitcoin era.
The ballance of generated bitcoins vs demand for real world is not reached.
The bitcoin price will continue to decline,
user base will not grow,
And the future of bitcoin is forgetting

I was referring to my business operation.

eMansipater
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March 16, 2011, 07:09:29 AM
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The new bitcoin animation should be a pretty good March event Smiley

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March 16, 2011, 11:12:19 AM
 #18

Much of the hype around Bitcoin has been the rapid rise in exchange rates vs. USD. This rise has leveled off for a while now, and it seems some of the enthusiasm has faded with it. No surprise, really. The kind of extraordinary growth we saw recently can't sustain itself indefinitely. Want Bitcoin to succeed? Hype it less, offer more goods and services.

In principal I agree with the following: we need more Bitcoin providers of goods and services.  

However... In the past few days I have come to see that the Bitcoin economy is suffering from a case of the "chicken and egg" problem.

Simply "[offering] more goods and services" is less than half of the answer to jump-starting the BTC economy.  More important is finding those in need of specific goods and services and matchmaking with those that can provide.

With so few people in possession of Bitcoins, it is of the highest priority to make the marketplace efficient and index the demand.

To sum up, the "chicken and egg" problem is caused by an inefficient marketplace and a shortage of potential buyers of goods and services.

-spencer

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March 16, 2011, 11:21:21 AM
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Much of the hype around Bitcoin has been the rapid rise in exchange rates vs. USD. This rise has leveled off for a while now, and it seems some of the enthusiasm has faded with it. No surprise, really. The kind of extraordinary growth we saw recently can't sustain itself indefinitely. Want Bitcoin to succeed? Hype it less, offer more goods and services.

In principal I agree with the following: we need more Bitcoin providers of goods and services.  

However... In the past few days I have come to see that the Bitcoin economy is suffering from a case of the "chicken and egg" problem.

Simply "[offering] more goods and services" is less than half of the answer to jump-starting the BTC economy.  More important is finding those in need of specific goods and services and matchmaking with those that can provide.

With so few people in possession of Bitcoins, it is of the highest priority to make the marketplace efficient and index the demand.

To sum up, the "chicken and egg" problem is caused by an inefficient marketplace and a shortage of potential buyers of goods and services.

-spencer

I'm back.

Onto the topic, we should offer goods and services that are uniquely advantagous when using bitcoin. To a certain extent this means offering goods or services that are illegal or banned in many if not most countries.

Begin to offer these and bitcoin will flourish. But even though it's a slow news (and chat) month as long as it is that way because people are busy building bitcoin stuff then great, thats fine. There will be a splurge of interest when we get a lot of new services.

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March 16, 2011, 06:18:03 PM
 #20

Much of the hype around Bitcoin has been the rapid rise in exchange rates vs. USD. This rise has leveled off for a while now, and it seems some of the enthusiasm has faded with it. No surprise, really. The kind of extraordinary growth we saw recently can't sustain itself indefinitely. Want Bitcoin to succeed? Hype it less, offer more goods and services.

In principal I agree with the following: we need more Bitcoin providers of goods and services.  

However... In the past few days I have come to see that the Bitcoin economy is suffering from a case of the "chicken and egg" problem.

Simply "[offering] more goods and services" is less than half of the answer to jump-starting the BTC economy.  More important is finding those in need of specific goods and services and matchmaking with those that can provide.

With so few people in possession of Bitcoins, it is of the highest priority to make the marketplace efficient and index the demand.

Check out Silk Road that was announced this month.   

To sum up, the "chicken and egg" problem is caused by an inefficient marketplace and a shortage of potential buyers of goods and services.

-spencer

I'm back.

Onto the topic, we should offer goods and services that are uniquely advantagous when using bitcoin. To a certain extent this means offering goods or services that are illegal or banned in many if not most countries.

Begin to offer these and bitcoin will flourish. But even though it's a slow news (and chat) month as long as it is that way because people are busy building bitcoin stuff then great, thats fine. There will be a splurge of interest when we get a lot of new services.
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